Limits ad valorem taxes on certain residence homesteads following substantial tax increases.

This bill amends the Texas Tax Code to limit the total amount of ad valorem taxes a school district may impose on certain residence homesteads after a substantial tax increase. It specifies that a school district may increase the tax on a residence homestead in the first year following an improvement, but only if the property is not the residence homestead of the individual entitled to the limitation. The limitation expires if the property is not the residence homestead of the individual entitled to it.

Limits ad valorem taxes on certain residence homesteads following substantial tax increases.

This bill amends the Texas Tax Code to limit the total amount of ad valorem taxes a school district may impose on certain residence homesteads after a substantial tax increase. It specifies that a school district may increase the tax on a residence homestead in the first year following an improvement, but only if the property is not the residence homestead of the individual entitled to the limitation. The limitation expires if the property is not the residence homestead of the individual entitled to it.